Blencowe Resources (BRES ) has completed a second phase exploration programme over identified geophysical targets situated immediately north and south of its existing deposits at the Orom-Cross graphite project in northern Uganda.
Graphite was found outcropping at surface across the targets tested along some 25 kilometres of strike, all within the company's lease areas. Grab samples from three of those targets returned high grade results above 20% total graphitic content.
"This follow-up exploration programme confirms the potential of Orom-Cross as a major graphite region with the potential for continuous mineralisation over some 25 kilometres,” said Iain Wearing, Blencowe’s interim chief executive.
“To date every geophysical target identified has been marked with significant surface outcropping of graphite. This points clearly to multi-decade production potential, a key and constant message in the ongoing discussions with strategic groups seeking secure long-term supply. The presence of potential high-grade zones throughout underlines the quality of this project. All areas sit within 10 kilometres of the proposed plant site, making it a strategically located addition to our development pipeline. We anticipate significant newsflow ahead and remain confident of Orom-Cross fast emerging as one of the most significant long-life graphite projects globally, and these results further enhance engagement with strategic groups focused on multi-decade supply security."
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The additional mineralisation adds to the attractiveness of Orom-Cross, which already has plenty going for it. Strategic partners seeking security of supply will be reassured by the likelihood of an extended mine life. A 21-year mining licence is already in place, and a huge resource has already been established. The immediate focus now is on securing Phase 1 project funding, although early-stage work on the wider targets will continue.